Last time I looked into and thought about loudness matching I think I concluded it was flawed. For a start you have to trust your ability to to actually be able to do it, and secondly the frequency response curve shouldn't be loudness matched across the whole frequency range right....I mean our ears aren't supposed to be sensitive to low bass frequencies and neither to high frequencies too, so with loudness matching wouldn't you just compensating for the deficits & injuries in your own hearing which is getting you further away from the "truth" of a real life experience, because real life auditory experiences are not frequency adjusted in loudness to match your personal hearing deficits....instead you adapt & live with those deficits? Or I'm thinking I'm missing some fundamental understanding of what loudness matching actually is?
You might be missing a fundamental understanding of what neutral sound from headphones is. Organs in our ears, especially the pinna, make it so a neutral response isn't actually flat in the case of headphones. While I'm fuzzy on the subject (just know enough to pimp my cans well), this is due to various reflections, especially in the treble range, not being heard from headphones the same they would be heard from flat speakers.
You can get a better understanding of this by reading studies from Floyd Toole and Sean Olive.
So, with that said, the Harman Target and targets utilizing similar scientific context attempt to aim for neutral sound in accordance to popular preference, alongside measurements. Since not all ears are created equal, that's where loudness matching comes in.
Let's round it off with an example. Hypothetically, say a person has perfect hearing. In that case, loudness matching is not compensating for hearing deficiencies, rather, it is compensating for the shape and organ placement of their ear. Reference sound from headphones to the person with perfect hearing and a typically formed ear still wouldn't be flat.
Now, for the person with comparable hearing and an
atypically formed ear, that's where loudness matching may have an advantage in certain respects over things like the Harman Target.
However, loudness matching in compensation for hearing deficiencies is also viable. You say it would get you further from the truth- nay, the hearing deficiencies themselves do.
With hearing deficiencies, you aren't exactly hearing the truth in "real life" either.